Citi announced today that it was further extending its US Dollar Express Wire for Asia services by launching Express Wire India Desk. The new service helps streamline the execution of US Dollar payments by sending transactions to the beneficiary bank in Asia expediently. If a payment order requires repair, Citi's experienced operations professionals are available to correct formatting errors on a timely basis. Express Wire also provides additional liquidity to banks that need to process their payments within Asia morning business hours, as well as direct linkages into local US Dollar Clearing systems.
Citi launched a dedicated China Desk to expedite Asian payments in 2010. Given expanding trade relationships between India and the rest of the world, the need for more effective payment solutions into India has increased. Complex banking systems and infrastructures can be challenging for counterparties who are seeking to do business in new and unfamiliar markets. Citi's brand new Express Wire India Desk provides local expertise and improved access, to help expedite payments into India.
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